J. Safra Sarasin Group to acquire remaining stake in Saxo Bank; Kim Fournais remains Chairman

Bank J. Safra Sarasin has reached an agreement to acquire the remaining stake in Saxo Holding AG held indirectly by Saxo Bank founder Kim Fournais, representing approximately 28.69% of the holding company. The transaction follows the exercise of a call option under the shareholders’ agreement between the parties.

Upon completion, J. Safra Sarasin will own 100% of Saxo Holding AG and, indirectly, of Saxo Bank. The Swiss private bank said the move reinforces Saxo's long-term ownership structure while ensuring continuity for clients, partners and employees. Saxo Bank will continue to operate as a separate entity, backed by the resources of the J. Safra Sarasin Group.

Kim Fournais will remain Chairman of the Board of Directors of Saxo Bank and continue to contribute to its strategic direction. Saxo reported strong commercial momentum and expects to announce its best half-year results in history as of 30 June 2026, driven by growth in client numbers and assets under management.

“Kim Fournais has built an exceptional business, and his entrepreneurial spirit and relentless commitment have made Saxo a global leader in digital investing,” said Jacob J. Safra, Chairman of the J. Safra Sarasin Group. “This milestone reflects our long-term perspective, and we are committed to preserving Saxo's unique strengths while supporting its next phase of sustainable growth.”

Fournais commented: “Today's announcement is fully aligned with the vision agreed with J. Safra Sarasin, and represents the next natural step in Saxo's evolution. Building Saxo over the past three decades has been the privilege of my professional life, and I look forward to continuing to support its strategic direction.”

The closing of the transaction is subject to standard regulatory approvals. The financial terms remain confidential.

J. Safra Sarasin, founded in 1841, is a Swiss private banking group with total client assets of over USD 460 billion and approximately 5,000 employees. Saxo Bank, founded in Denmark in 1992, serves more than 1.7 million clients and over 400 institutional partners worldwide, with client assets exceeding DKK one trillion.